Jan 26, 2021
Greg Schwartz
seen from South Africa
seen from Germany
seen from Türkiye
seen from Germany
seen from Algeria
seen from Malaysia
seen from Germany
seen from Germany
seen from Belarus
seen from United States
seen from United States
seen from Algeria
seen from Bangladesh
seen from Lithuania
seen from Israel
seen from United States
seen from United States
seen from United States
seen from Hong Kong SAR China
seen from Kazakhstan
Greg Schwartz
Greg Schwartz
After transforming his sneaker price guide website Campless into the online marketplace five years ago.
Unexpectedly, StockX co-founder Josh Luber announced his exit from the company. Taking to Instagram, Luber posted a black version of the logo accompanied simply by the caption “thank you.”
Following reports, Luber confirmed speculation of his departure, which comes a year after he stepped down as CEO and introduced former eBay senior vice president of Americas to take over his position. Back in June 2019, StockX reached a $1 billion-plus valuation just as Luber was relinquishing his position as CEO.
Speaking to BOF, Josh Luber said, “It was always my intention from the day I started StockX that I would start another start-up—and then probably after that,” noting that his plan is already in “stealth mode.”
With the help of Cleveland Cavaliers owner Dan Gilbert, Chris Kaufman and Greg Schwartz, Luber turned his online sneaker price guide, Campless, into the massive marketplace now known as StockX five years ago. Read StockX’s official statement below.
StockX was founded more than four years ago by a group of visionaries with a commitment to disrupting e-commerce and addressing the changing needs of the consumer. Today, StockX announced that Josh Luber, the company’s co-founder, is leaving to pursue interests outside of the company. Since stepping away from the role in June 2019—when eBay and StubHub alum Scott Cutler took up the mantle as CEO—Josh has been focused on innovation within the business. It is through that process, that he found a renewed interest in returning to his entrepreneurial roots. Over the past year, Luber and Cutler, who was an early investor in and advisor to StockX, have worked together to ensure a seamless transition. While Josh will be missed, his vision for what StockX could be will remain an inspiration for the more than 800 team members working to drive the business forward every day
Thanks to $110 million in funding from investment firms DST Global, General Atlantic, and GGV Capital, StockX is now valued at over $1 billion.
Today is a big day for Josh Luber and StockX, the self-proclaimed “stock market of things.” Thanks to $110 million in funding from investment firms DST Global, General Atlantic, and GGV Capital, StockX is now valued at over $1 billion, surpassing a $1 billion annual GMV run rate in less than three years.
According to a press release from the company, StockX plans to use the new investment to expand its international reach, specifically in Europe and the Asian markets. It also hopes to diversify its product categories as well as open brick-and-mortar locations in key international markets. StockX says it will continue to collaborate with the world’s leading brands to release exclusive products on the platform. There are currently millions of active StockX users in nearly 200 countries.
In addition to new funding and the $1 billion-plus valuation, StockX announces that Scott Cutler will succeed co-founder Josh Luber as CEO, as Luber will continue to serve on the executive leadership team and board of directors. Cutler was previously senior vice president, Americas at eBay, after serving as president of StubHub, the world’s largest ticket marketplace, from 2015 to 2017.
“His extraordinary background mirrors the unique business model we have built at StockX. He understood the power of a ‘stock market of things’ and quickly became a friend and trusted advisor,” Luber says of Cutler. “Over the three years that followed, as the business scaled rapidly, Greg [Schwartz, StockX co-founder and COO] and I had the idea that Scott might one day be the perfect CEO to take us to the next level. Then the stars aligned — the growth continued, we added three world-class investors to our team, and Scott became available. We weren’t looking for a new CEO, but this was a no-brainer.”
StockX was co-founded in February of 2016 by Luber, StockX COO Greg Schwartz, and Dan Gilbert, founder and chairman of Quicken Loans and chairman of the Cleveland Cavaliers. Following its entry as a sneaker stock market, the company expanded into streetwear, watches, handbags, and most recently, collectibles.
he may be a bastard but you got to admire that schwartz's moxy.